byAlma Abell
Filing for bankruptcy can be a scary process, but it does not have to be. If you are dealing with mountains of debt and cannot find a way out, you may want to consider working with a Bankruptcy Lawyer in Hamilton OH. A lawyer can go over your options for filing for bankruptcy so you can know more about your options. This will allow you to make a wise decision on which type you file and get the legal help you need through the process.
To get started with a Bankruptcy Lawyer in Hamilton OH, it is important you bring in the required information. You will need to bring in your debt information, proof of income from the last six months and your ID. These pieces of information will be needed, no matter which type of bankruptcy you file.
When you bring in your information, the lawyer will offer you two choices, based on the debts you owe and your income amount. You can choose between chapter 7 or 13 bankruptcy. Each of these has their own pros and cons so it is important you choose carefully. Your lawyer can help you in making the decision.
Chapter 7 requires you meet income eligibility to file. You will go through the means test to make sure your income is not too high. If you pass this testing, your assets will be subject to review. Non-essential assets will be considered for liquidation so your debts can be paid off. This is normally accomplished in six months or less.
Chapter 13 is an option for those who do not want to get rid of any assets. The process is longer, normally lasting between two and five years. During this time, you will make scheduled payments to the court each month. Each payment is dispersed among the creditors you owe so your debts can be paid off by the end of the bankruptcy period.
To learn more about your options for filing for bankruptcy, Contact R. Dean Snyder Attorney. He and his team will work to help you through your debts by giving you the right options for filing. Call today and schedule your consultation.